The best residential mortgage rates 11 06 21 | moneyfacts.co.uk

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Derin Clark

Derin Clark

Online Reporter
Published: 11/06/2021

The number of mortgage deals available on the market is continuing to increase, with a significant rise in deals available for those with a 10% or 5% deposit. As well as this, rates have remained highly competitive this week with mortgage deals offering rates below 1% available in both the remortgage and moving home charts. The first-time buyer chart is also starting to see rates fall, which is positive news for first-time buyers looking to take their first step onto the property ladder.

Here we’ve highlighted the lowest rates available this week across our mortgage charts but mortgage borrowers should remember that the lowest rate may not be the best deal for them. Instead, borrowers should consider all aspects of the deals, such as product fees and incentives, which can impact the overall cost of the deal. Those who are unsure of which deal is best for them should speak to a broker who will be able to provide help and advice on choosing the best deal.

The best remortgage rates

Provider Rate Initial rate period Product fee  
Platform 0.95% fixed Two years £1,499 Speak to a broker
Platform 1.18% fixed Three years £1,499 Speak to a broker
HSBC 1.16% fixed Five years £1,499 Speak to a broker

 

Platform, which is part of The Co-operative Bank, had the lowest rate in both our two and three year remortgage charts. In the two year remortgage chart it offers 0.95% (3.9% APRC) fixed until 31 August 2023, which then reverts to 4.34%. In the three year remortgage chart it offers 1.18% (3.7% APRC) fixed until 31 August 2024 and then reverts to 4.34%. Both deals are available at a 60% loan-to-value (LTV) and borrowers must earn a minimum of £15,000. They both charge £1,499 in product fees and come with the incentives of free valuations, no legal fees and £250 cashback.

In the five year remortgage chart the lowest rate comes from HSBC, which offers 1.16% (2.7% APRC) fixed until 31 August 2026 that reverts to 3.54%. The deal is available at a 60% LTV and comes with a number of restrictions including earning a minimum income of £75,000. It charges £1,499 in product fees and comes with the incentives of free valuations and no legal fees.

Compare remortgages

The best mortgage rates for home-movers

Provider Rate Initial rate period Product fee  
Platform 0.95% fixed Two years £1,499 Speak to a broker
Platform 1.18% fixed Three years £1,499 Speak to a broker
NatWest Int Sols 1.14% fixed Five years £995 Speak to a broker

 

Platform also dominated the moving home chart this week offering the lowest rates in both the two and three year charts. In the two year moving home chart it offers 0.95% (3.8% APRC) fixed until 31 August 2023 and then reverts to 4.34%. In the three year fixed it offers 1.18% (3.6% APRC) fixed until 31 August 2024, after which it reverts to 4.34%. These deals are available at a 60% LTV and require a minimum income of £15,000. They charge £1,499 in product fees. Both deals have the incentive of free valuations, no legal fees and £250 cashback.

The lowest rate in the five year moving home chart came from NatWest Int Sols this week which offers 1.14% (2.7% APRC) fixed until 31 August 2026, which then reverts to 3.59%. It is available at a 60% LTV and only available through a mortgage broker. It charges £995 in product fees and comes with the incentive of free valuations for properties valued to a maximum of £2 million.

Compare moving home mortgages

The best first-time buyer mortgage

Provider

Rate

Initial rate period

Product fee

 

Newcastle Building Society

2.85% fixed

Two years

£999

Speak to a broker

NatWest Int Sols

3.23% fixed

Three years

£995

Speak to a broker

 

The lowest rate in the two year fixed first-time buyer chart that does not have localised opening restrictions comes from Newcastle Building Society. This deal offers 2.85% (3.9% APRC) fixed until 30 November 2023, after which it reverts to 3.96%. This deal is available at a 90% LTV and charges £999 in product fees. It comes with the incentive of free valuations for properties valued to a maximum of £500,000.

NatWest Int Sols had the lowest rate in the five year fixed first-time buyer chart this week offering 3.23% (3.6% APRC) fixed until 31 August 2026 and then reverts to 3.59%. This deal is only available through mortgage brokers and is available at a 90% LTV. It charges £995 in product fees and comes with the incentive of free valuations on properties valued to a maximum of £2 million and £250 cashback.

Compare first-time buyer mortgages

Disclaimer

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